The global kraft papers market is segmented into application such as packaging, pallet uses, paint masking, floor covering and others. Among these segments, packaging segment grabbed the largest stake of overall kraft papers market and is envisioned to account for the highest CAGR over the forecast period. Likely, robust expansion of eco-friendly packaging industry over the globe on the back of growing concerns towards environmental pollution is believed to flourish the growth of global kraft papers packaging market. In addition to this, increasing sale of fast food such as burgers and others is also augmenting the demand for kraft papers for wrapping. This factor is also envisioned to trigger the market of global kraft papers in near future.
The virgin natural kraft paper segment by type is projected to seize a remarkable CAGR during the forecast period. Moreover, the factors propelling the market of virgin natural kraft paper includes rising demand for high level of tear resistance for branded packaging and protective layering. Apart from this, Asia-Pacific region accounted for the largest market of kraft papers in terms of revenue in 2016. Additionally, rising government regulations towards limiting plastic packaging due to environment concerns is expected to push the market of kraft papers in the regions. Apart from this, Asia-Pacific region is predicted to be the fastest growing Kraft Papers Market owing to increasing awareness about eco-friendly packaging.
Global kraft papers market is anticipated to capture a noteworthy CAGR of 5.5% over the forecast period i.e. 2017-2024. Moreover, the global kraft papers market is anticipated to account exponential sales by the end of 2024. Additionally, the market is riding on the back of growing demand for sustainable packaging.
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Evolution of Packaging Industry
Mounting environmental concerns throughout the world have pushed the government to increase their spending on the development of eco-friendly packaging products which are high in tear resistance. This factor is believed to augment the demand for kraft papers. Furthermore, growing concerns for waste disposal all over the globe is also predicted to foster the growth of kraft papers market.
Advancement in Packaging
Recent advancement in kraft papers industry such as introduction of kraft papers for heavy-duty applications such as virgin natural kraft paper, white or bleached kraft paper and others. Moreover, wide usage of kraft paper for making corrugated boxes and liners, corrugated sacks and composite containers are some of the factors propelling the market of kraft papers.
The report titled “Global Kraft Papers Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global kraft papers market in terms of market segmentation by type, by application, by end user and by region.
On the contrary, lack of government initiatives in underdeveloped nations regarding the adoption of kraft papers is expected to be the major factor hampering the market of kraft papers by 2024.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global kraft papers market which includes company profiling of Mondi Group, Genus Paper & Boards Limited., Canadian Kraft Paper Industries Ltd., SSI Packaging Group, Pudumjee Paper Products, Uline, CTI Paper Group Company, Komar Alliance LLC, French Paper Co. and Goodwin Robbins Packaging Company Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global kraft papers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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